Apple's Q4 Results Surpass Wall Street's Revenue and Earnings Per Share Expectations

Foreks - Apple's (NASDAQ:AAPL) financial results for the fourth quarter exceeded Wall Street's revenue and earnings per share expectations, but the company's net profit fell following a one-time payment as part of a tax ruling in Europe.
In the fourth quarter, revenue rose to $94.93 billion, surpassing the estimate of $94.58 billion. Adjusted earnings per share were $1.64, above the expected $1.60.
iPhone revenue increased by 6%, providing the first indication of how the iPhone 16 performed in the market. Apple CEO Tim Cook stated that iPhone 15 sales were "stronger than the 14 in the previous quarter and that the 16 is stronger than the 15."
Revenue from iPhone sales was $46.22 billion, Mac sales revenue was $7.74 billion, iPad revenue was $6.95 billion, and service revenue totaled $24.97 billion.
In the fourth quarter, Apple recorded a net income of $14.73 billion or $0.97 per share, down from $22.96 billion or $1.47 per share in the previous quarter. After excluding the one-time tax burden, Apple’s adjusted earnings per share increased by 12% year-over-year.
For the full fiscal year, Apple generated $391.04 billion in revenue, marking a 2% increase.